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Report No. : |
317970 |
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Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
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Name : |
I.C.T.C. HOLDINGS CORPORATION |
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Registered Office : |
720 Eaton Way, Delta, British Columbia V3M 6J9 |
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Country : |
Canada |
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Date of Incorporation : |
1969 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is engaged in designs, develops, manufactures and distributes tinting and mixing equipment for the paint and coatings industry. |
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No of Employees : |
350 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
CANADA ECONOMIC OVERVIEW
As a high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US, its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian merchandise exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its abundant natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the early intervention by the Bank of Canada and the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-14 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly expanding, because Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela.
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Source
: CIA |
Company name: I.C.T.C. HOLDINGS CORPORATION
Address: 720 Eaton Way, Delta, British
Columbia V3M 6J9 - Canada
Telephone: +1
604-522-6543
Fax: +1 604-522-8735
Website: www.hero.ca
Corporate ID#: BC-0000869838
State: British Columbia
Judicial form: Corporation – Profit
Date incorporated: 12-31-2009
Date founded: 1969
Stock: -
Value: -
Name of manager: Steve
BALMER
History:
Effective December 31, 2009, NAPIER
ENVIRONMENTAL TECHNOLOGIES INC. and I.C.T.C. HOLDINGS CORPORATION completed a business
combination by way of amalgamation pursuant to Section 269 of the Business
Corporations Act (British Columbia).
Pursuant to the Amalgamation, all common
shares of Napier were converted to Class G preference shares of I.C.T.C. on a
one-for-one basis and immediately redeemed for cash in the amount of $0.01 per
share.
Business:
I.C.T.C. Holdings Corporation designs, develops, manufactures and
distributes tinting and mixing equipment for the paint and coatings industry.
Its products include paint sprayers, paint shakers, colorant dispensers,
and pressure washers.
The company serves retail paint stores, paint manufacturers and
retailers, and equipment rental companies.
I.C.T.C. Holdings Corporation was founded in 1969 and is based in Delta,
Canada
Exports worldwide.
The Company is also doing business as HERO Products Group.
No name of foreign suppliers available.
Foreign suppliers include:
Staff: 350
Operations & branches:
At the headquarters, we
find
Shareholders:
Management:
Steve BALMER is the President and CEO.
Graduate from Humber College in 1977 in Technical Marine Industry.
Present here since February 2005.
Terry NEWTON is Senior VP Global Sales - Key Accounts.
Carlos DE MELO is VP and General Manager, HERO Products Group, North
American Operations.
Subsidiaries
And partnership:
HERO LATIN AMERICA SISTEMAS TINTOMETRICOS LTDA
Av. Dom Pedro I , 953 - Vila Conceiçăo
Diadema, SP – 09991-000 - BRAZIL
HERO EUROPE S.R.L.
Via Bricco 1 12040
Salmour (CN) - Italia
GUANGZHOU QIAOCHU INDUSTRY TRADE LTD.
#5 Building 5, Dongxian Industry Park,
Kengtou Cun, Nancun Zhen, Panyu District,
Guangzhou, Guangdong, China 511442
HERO Products India Pvt. Ltd.
P1 & P2, Shree Rajlaxmi Hi-Tech Textile Park,
Sonale Village, Taluka Bhiwandi,
Dist. Thane - 421 302, Maharashtra, INDIA
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2014 is in the range of CAD 15,000,000=
The business is profitable.
Banks: Scotia Bank
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary : None
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 62.56 |
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|
1 |
Rs. 93.56 |
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Euro |
1 |
Rs. 67.49 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.